Smart Tools for Asset Managers

Flash Note:

At Gavekal Intelligence Software, we develop quantitative financial applications to implement Gavekal’s economic research expertise with the help of artificial intelligence and advanced software technologies.


TrackMacro: 100% equity risk off as at February 29th for the month of March.


History of The Company

Gavekal Intelligence Software (formerly Insight Research) is a financial software company headquartered in Nice, France, developing quantitative tools for asset managers.


The company was created in 1999 as the result of a project combining academic research in market finance, IT development using artificial intelligence technology, and financial market expertise.


The company was founded in the US, then transferred to France, with the goal of developing new-generation tools for investment and risk management geared towards international investors and covering all types of assets: stocks, bonds, commodities, currencies, index funds, and alternative funds.


In 2014, the company joined Gavekal to support the quantitative developments of the group and to benefit from the economic expertise of a leading independent macro research company.

Mission Statement

The company’s mission statement rests on the three pillars of Gavekal, in order of importance, with a specific focus on fostering a highly technological and innovative work environment:


  • Always serve clients and always put the clients’ best interest first
  • Maintain a healthy level of profitability
  • Create and foster a positive and rewarding work environment for our staff


Gavekal Intelligence Software provides actionable investment ideas:


  • Gavekal Portfolio Solutions (GPS): bi-monthly publications on portfolio construction, investment ideas, behavioral finance indicators, macro indicators, and econophysics


Gavekal Intelligence Software developed two applications for asset managers:


  • TrackRisk: a portfolio risk software to simulate, analyze and optimize global investment portfolios
  • TrackMacro:  an equity risk software providing risk-on / risk-off signals on 40 major country indices worldwide, based on fundamental macro rules.

The Team


Portfolio Simulation Software, which was developed over 16 years, to benefit from the latest quantitative techniques to analyse risk (VaR calculation for heavy tails, Monte Carlo simulation, genetic algorithm for portfolio optimization)

Download TrackRisk Brochure

Download brochure

Simulate, Stress-test, and Optimize Portfolio

Average risk

Catastrophic risk

Portfolio behavior in stressed periods

Portfolio behavior in various economic environments

Dependencies to major risk factors, such as commodity prices, interest rates, equity returns etc.

Simulation of portfolio reallocation

Optimized portfolio allocation


Equity risk-on / risk-off signals on 40 major equity indices worldwide

The software tool combines 7 fundamental macro rules by Charles Gave, Chairman of Gavekal group, and artificial intelligence technology developed by Gavekal Intelligence Software (See our publications)

Download TrackMacro Software and Brochure

TrackMacro for Tablets on Apple Store

TrackMacro 2.0 (New version for PC)

TrackMacro User Guide

TrackMacro Brochure

Video on TrackMacro

TrackMacro Tutorial Video

TrackMacro Presentation by Didier Darcet, Gavekal Seminar in London March 2017

Automated Macro Risk Tracking for Equity Investors

Charles Gave teamed up in 2014 with Gavekal Intelligence Software; his new quantitative research group with over 15 year's experience in artificial intelligence. Together, they spent the next two years testing, re-testing and ranking the hundreds of investment rules that Charles had picked up and developed over the years. They managed to retain seven rules with high statistical significance across the world's 40 largest equity markets. And they have now combined these seven rules in a software application called TrackMacro.

Gavekal Portfolio solutions (GPS): Bi-monthly Publications on Quant Research

GPS revisits fundamental financial concepts, human bias, and statistical and scientific market expectations. It proposes a method, a service, and an open debate with its clients.


The Method


Complex systems in interactions have been studied by science for more than 150 years and lead to extraordinary comprehensions of physical processes, probable outcomes, and in the mass production of industrialized products. Market finance is just another complex system in interaction.

The GPS team has reinterpreted for ten years, one by one, many of the underlying assumptions of portfolio theories with a scientific eye. The team regroups expertise in artificial intelligence, physics, and portfolio management (proprietary trading, hedge funds and asset allocation). It has been headed by Charles Gave, Chairman of Gavekal, since 2014. The conclusions are immediately actionable and somewhat surprizing.


The Service


The service takes the form of bi-monthly publications on historical and on-going researches. Some publications cover the current state of macro and behavioural market indicators, to help investment managers make allocation decisions. Others focus on portfolio construction with longer term objectives of robustness. The last ones revisit the market finance theories and the fundamental information we can grab from its analogy with physics.


The Debate


GPS research delves into behavioural finance, arbitrage, portfolio construction, and into the concept of antifragility. We show how the concepts has evolved in the field of physics, and how they can be adeptly applied to the financial markets. Furthermore, GPS research displays the different ways this application can be used, and open the debates with its clients on specific implementations. Ultimately, our readers are led through the various theories of physics and economics that have led to these conclusions; fragile and antifragile objects, human beings, that we interact with everyday, represent relationships that could change our understanding of finance in the future.


Enjoy the readings, debate, challenge the views, and help us build a community and fund our research.



Gavekal Portfolio solutions (GPS): Registration Request Form

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Contact Us

Gavekal Intelligence Software, SARL

Le Consul - 37 Boulevard Dubouchage | 06000 Nice

33 rue du Ranelagh 75016 Paris

Phone: +33 967 325 833 | Email:

Gavekal Intelligence Software

© Copyright 2015 by G.I.S. All rights reserved.